Sony Music Entertainment may be looking to venture into the non-fungible token (NFT) business. The company, established in 1929, seeks to bring artists as well as music closer to the NFT industry. The American music giant has filed a trademark application seeking permission to cover “audio and video recordings featuring live musical performances authenticated by NFTs”. With the likes of several music celebrities like Snoop Dogg, Justin Bieber, and Madonna among others, the NFT industry seems to be gaining popularity globally.
Sony filed a trademark application for the Columbia Records logo, intending to use it around NFT-supported media.
While Sony has yet to reveal its NFT-related plans, trademark attorney Mike Kondoudis shared screenshots of the company’s filings on Twitter.
The application also seeks relevant approvals to cover marketing services, promotion, distribution, marketing, advertising and online entertainment.
This Sony filing adds to the long list of patents already filed by companies looking to explore the NFT arena this year.
This year so far, the number of NFT applications has exceeded those submitted in the areas of Crypto, Web3 and Metaverse.
To date, more than 5,800 applications and patents relating to NFTs have already been filed with the United States Patent and Trademark Office (USPTO). In 2021, that number was 2,087.
Sony Music has made inroads in the virtual asset sector.
Earlier in March, the music company teamed up with Solana Snowcrash-based NFT marketplace and fellow music giant Universal Music Group to release the Bob Dylan and Miles Davis NFT collections in 2022.